Nikkei Continues to Rally on Weak Yen

More evidence of economic weakness in the eurozone has come from the latest retail sales figures and a survey of business growth.

Retail sales in the 18-nation bloc fell 1.3% in September from August, official data from the Eurostat statistics agency showed.

Meanwhile, growth was minimal across all sectors, according to the latest Markit Purchasing Managers’ Index.

European policymakers have been introducing measures to boost growth.

‘Limping along’
The Eurostat figures show that Germany, traditionally the driver of eurozone growth, suffered the biggest fall in retail sales, down 3.2% for the month.

The next biggest fall was in Portugal, down 2.5%.

Rises in retail sales came only in smaller eurozone countries, such as Malta, Luxembourg and Austria.

Eurostat also revised down the August monthly rise to 0.9% from the previously reported 1.2%.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza